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Publication date: 26 Mar 2018 | Publication type: NIESR Discussion Paper | Theme: Macroeconomics | Authors: Davis, P, Liadze, I, Piggott, R, Hurst, I | External authors: Carreras, O, Warren, J | JEL classification: E58, G28 | NIESR discussion paper number: 490
In this paper we incorporate a macroprudential policy model within a semi-structural global macroeconomic model, NiGEM. The existing NiGEM model is expanded for the UK, Germany and Italy¹ to include two macroprudential tools: loan-to-value ratios on mortgage lending and variable bank capital...